Coterra Energy Inc. (NYSE:CTRA) Shares Sold by Philadelphia Trust Co.

Philadelphia Trust Co. lowered its position in Coterra Energy Inc. (NYSE:CTRA) by 0.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 317,512 shares of the company’s stock after selling 735 shares during the period. Philadelphia Trust Co.’s holdings in Coterra Energy were worth $8,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of CTRA. City State Bank acquired a new position in Coterra Energy during the 4th quarter worth approximately $26,000. AdvisorNet Financial Inc raised its stake in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the last quarter. MCF Advisors LLC lifted its holdings in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares in the last quarter. R Squared Ltd purchased a new stake in Coterra Energy in the 4th quarter valued at approximately $32,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of Coterra Energy during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on CTRA shares. UBS Group lowered their target price on shares of Coterra Energy from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler upped their target price on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Morgan Stanley dropped their target price on Coterra Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Barclays upped their price target on Coterra Energy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $25.13 on Friday. The company has a market capitalization of $19.20 billion, a price-to-earnings ratio of 15.14, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The business has a 50 day simple moving average of $27.38 and a 200-day simple moving average of $26.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 13th. This represents a $0.88 annualized dividend and a yield of 3.50%. Coterra Energy’s dividend payout ratio is 58.28%.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.